Site visit and exploration programme development for Mexican Projects

January 9th, 2020

Related documents

Please follow link to full announcement including figures:

http://www.rns-pdf.londonstockexchange.com/rns/2113Z_1-2020-1-8.pdf

Site visit and exploration programme development for Mexican Projects

Alien Metals Limited (“Alien Metals” or “Company”) the exploration and development company is pleased to announce that it is in the process of submitting applications for permission to drill at its Los Campos and San Celso Silver projects in Mexico. Additionally, Alien’s Technical Director, Bill Brodie Good, will be conducting a site visit to these projects imminently. Both of these events tie into potential long term development plans for these projects.

Highlights:

- Detailed exploration drill programmes have been planned for Los Campos and San Celso silver exploration projects

- A ground magnetics survey is in final planning stage for the Donovan 2 copper gold Volcanic Massive Sulphide (‘VMS’) target which will generate follow up work and potential drill targets

- Imminent submission, to SEMARNAT, the Environmental Ministry of Mexico, as per Mexican regulations, of drill programmes to obtain permission to drill at Los Campos and San Celso

- Discussions with various drilling companies are in progress

- Site visit planned by Technical Director in January, including meetings with service providers and potential Joint Venture partners

- Technical Director to complete site visits at all of the Company’s tenements

Bill Brodie Good, Technical Director, commented:

“I am very excited to get on the ground in Mexico and to spend time with our local team. Additionally, I am looking forward to meeting with some local service providers, as well as other companies working in the region in order to advance possible Joint Venture discussions.

“With the submission of the drill programmes I am hoping permission will be obtained soon to give Alien the opportunity to carry out initial drill testing on the highly prospective Los Campos and San Celso projects. I am also hoping to access some of the historic underground workings to get a better understanding of their condition and see some of the mineralisation in -situ.”

Los Campos (Silver)

Previous exploration activity at Los Campos highlighted the high-grade silver potential of the Los Campos project, which features a historic mine within the project area which records show was mined between 1883 until all work stopped in 1904 with average mine head grade of over 1,000 g/t Ag in the early 1890s.

The results of the previous sampling programme show that the mineralisation is concentrated in the previously defined main veins with further evidence that the historic dumps on the site contain some high-grade material as well.

Alien has outlined a comprehensive grid based drilling plan to cover all eventualities but ensuring that each drill hole can be used in a resource estimation in the future based on the grid pattern and proximity of the holes, rather than commencing with a few random drill holes that are not necessarily compatible with a future resource estimate. A total of 47 angled holes for a planned 3,250m are proposed with an average depth of 70m per hole to intersect the target veins and mineralised halos perpendicular to dip. Once permission is provided Alien hopes to commence with four-six strategic holes as an initial programme subject to additional funding to further define the potential of the mineralisation and ensure each follow up hole adds significant knowledge and value to the project.

Figure 1: Provisional Drill plan, Los Campos, Mexico

Figure 2: Schematic cross section, line 2603E, Los Campos, Mexico

(Red represents interpreted mineralised veins)

San Celso (Silver)

Located within the Zacatecas Silver belt of Mexico, the San Celso project is a highly prospective silver target in a favourable mineralised district. Previous exploration programmes at San Celso have highlighted the high-grade silver potential of the project.

Recent surface mapping and sampling was undertaken to corroborate earlier reconnaissance and mapping of the area, and specifically to consolidate the historic sampling and mapping data, bring it up to date and merge it with older data. The results confirm the very high grade of the known veins both in-situ as well as in surface dumps.

Alien has proposed a comprehensive grid based drilling plan to cover all eventualities but ensuring that each drill hole can be used in a resource estimation in the future based on the grid pattern and proximity of the holes, rather than commencing with a few random drill holes that are not necessarily compatible with a future resource estimate. A total of up to 30 angled holes for 2,550m are proposed with an average depth of 85m per hole to intersect the target veins and mineralised halos perpendicular to dip. Once permission is granted Alien hopes to commence with 4-6 strategic holes as an initial program subject to additional funding to further define the potential of the mineralisation and ensure each subsequent hole adds significant knowledge and value to the project.

Figure 3: Provisional Drill plan, San Celso, Mexico

Figure 4: Schematic cross section, line 5780E, San Celso, Mexico

(Red represents interpreted mineralised veins)

Alien is continuing discussions with a range of parties regarding potential joint venture opportunities, however no binding agreements have been reached to date.

For further information please visit the Company’s website at www.alienmetals.uk, or contact:

Alien Metals Limited

Bill Brodie Good, Technical Director

David Taylor, Company Secretary
Tel: +44 (0)20 7887 6599

First Equity Limited (Joint - Broker)

Jason Robertson

Tel +44 (0)20 7374 2212

Beaumont Cornish Limited (Nomad)

James Biddle/ Roland Cornish

www.beaumontcornish.com

Tel: +44 (0) 207 628 3396

Novum Securities Limited (Joint - Broker)

Jon Belliss

Tel +44 (0)20 7399 9425

Blytheweigh (Financial PR)

Megan Ray/Rachael Brooks

Tel: +44 (0) 207 138 3204

Notes to Editors

Alien Metals Ltd is an AIM quoted mining exploration and development company. Since the restructure of the company in 2018, Alien has focused on delivering its strategy of acquiring mining projects which demonstrate significant development upside, in jurisdictions with established infrastructure and mining codes, and where strong operational controls can be assured.

In addition to progressing its acquisition-led strategy, following the strategic review of its portfolio of projects in Mexico during 2018-19, the Company has identified exploration targets across its 12 mining concessions in Zacatecas, Mexico, which it is working to advance systematically.

Qualified Person

The information in this report that relates to exploration targets, exploration results, and other information of a technical nature has been reviewed by Dr Lex Lambeck Ph.D, a technical consultant to the Company. Dr Lambeck is a Member of the American Institute of Professional Geologists and a Certified Professional Geologist, CPG-11734, with over 15 years of relevant experience in exploration and assessment of resource projects.

Forward-Looking Information

This press release contains certain “forward-looking information”. All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are deemed forward-looking information.

This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company as well as certain assumptions, including the availability of sufficient funds. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realised or substantially realised, there can be no assurance that they will have the expected consequences to, or effects on the Company.

Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

Glossary:

g/t - Gram per ton

Ag - Silver

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